Global Debt Registry Tops $1.5B In Verified Marketplace Loans

Oct 16 2017 | 10:23pm ET

Loan data specialist Global Debt Registry has crested the $1.5 billion valuation mark in online loans issued by leading online lending platforms and verified by the company’s suite of due diligence solutions.

The tally comes shortly after GDR announced successful SOC 1 type 1 and SOC 2 type 2 attestations last week. The SOC achievements verified GDR’s internal controls and data security frameworks, which the company considers essential as the capital devoted to the alt lending space continues to grow rapidly.  

In verifying more than 100,000 online, unsecured consumer accounts valued at over $1.5 billion, GDR confirmed more than three million individual account data points, the company said in a statement. This included 100% review of loan file data against promissory note & TILA documents within a period of hours, as opposed to the current industry standard of several days.

“The adoption of GDR’s services this year demonstrates the significant and tangible value of our trusted loan verification solutions to the industry,” said Charlie Moore, president of GDR. “When investors are confident in the quality of underlying assets, they will grow their online lending portfolios. We are dedicated to achieving the highest standards in investor due diligence, continuing to spur confidence and increase investor participation in the online lending market.”

GDR’s automated verification process enables online lenders, investors, and warehouse lenders to validate the integrity of loan and borrower data and supporting documents for these assets. Earlier this year, the company announced a secure, permissioned blockchain proof of concept designed to provide an immutable audit trail and a single, consistent source of core loan data.

Backed by a $5 billion private equity firm and led by a team of senior executives from Thomson Reuters, Bank of America, and Barclays, Delaware-based GDR utilizes cutting-edge technology to provide independent asset certainty and validation services across entire portfolios of loans in real time. The company’s asset certainty tools require no technology investment, using existing data structures and processes to streamline the flow of information from the lender to the investor.

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